The heads of the Iranian and Armenian delegations have held constructive talks on gas exports and extension of a gas-for-electricity barter contract. Following a meeting with Hakob Vardanyan – Deputy Minister of Energy Infrastructures and Natural Resources of the Republic of Armenia, Amir Hossein Zamaninia, Iranian Deputy Petroleum Minister for …

Saudi Arabia’s oil exports to China increased by 43% month-on-month (MoM) in November 2020 to reach 8.48 million tons, or 2.06 million barrels per day (bpd). Accordingly, the Kingdom, the world’s second biggest economy, restored its position as the largest oil supplier to China, Reuters reported. Russia came second, with …

Russia views an oil price between $45 and $55 per barrel as the optimum level to allow for its oil production recovery, Reuters reported, citing Russian Deputy Prime Minister Alexander Novak. He added that Russia will support an increase in oil production by the Organization of the Petroleum Exporting Countries …

Caretaker of planning and development department of National Petrochemical Company of Iran Hassan Abbaszadeh said on Saturday that the company is focusing on leading petrochemical projects to replace the crude oil and gas exports. He made the remarks speaking to IRNA economic correspondent on Saturday. Noting that the price of …

Six US chemical and oil products will not be targeted by additional duties for another year, according to China’s finance ministry. The exemptions were initially introduced after the two countries reached a phase-one trade deal. The extension will come into force on Saturday and last until December 25, 2021, the …

The CEO of the National Iranian Gas Company (NIGC) said Iran is fully self-sufficient in natural gas supply and has no imports. In an interview with SHANA, Hassan Montazer Torbati said, “We do not import gas and the needs of the whole country are met from domestic sources for the …

Russia will support hiking production under the historic OPEC+ accord by 500,000 barrels a day in February if the market continues to stabilize, the deputy prime minister in charge of the energy sector, Alexander Novak, has said. “If the situation stays normal and stable, we will support the increase,” Novak …

Rosneft and specialists of the Siberian Federal University have developed the technology of production of environmentally friendly drilling fluids based on seed oils and containing biodegradable components. The development of Russian green drilling fluids rivalling costly foreign analogues in terms of functionality is the task of utmost importance. Drilling fluids …

Iranian oil minister announced on Thurs. that the country’s petrochemical income is expected to reach $25 billion at the end of the next Iranian calendar year (March 20, 2022), Trend reports citing Mehr. According to Bijan Namdar Zanganeh, Iran could earn $11 billion of revenues in the first boom of …

The United Arab Emirates is optimistic about a recovery in oil demand in 2021, but says it won’t be immediate. Rollout of coronavirus vaccines and improvement in ties between the United States and China are likely to improve demand for oil, Energy Minister Suhail Al-Mazrouei told Sky News Arabia. “Recovery …